Bank Syariah Indonesia Has Successfully Collected Profit Of Rp742 Billion In 2021's First Quarter

High ranks of Bank Syariah Indonesia officials (Photo: Doc. Antara)

JAKARTA - PT Bank Syariah Indonesia (BSI) posted a net profit of Rp742 billion in the first quarter of 2021. The score grew 12.85 percent year-on-year (YoY) compared to the first quarter of 2020.

"The impact of COVID-19 is still heavy, but we are confident that various stimulus policies from the government can improve the national economy," said President Director of BSI Hery Gunardi in a presentation that was broadcast virtually, Thursday, May 6.

He added that a number of incentives in the economic sector provided by the state were deemed sufficient to have an effect on the acceleration of economic recovery.

"For example, the housing mortgage side is effective in growing demand in the property business sector. Then, on the motor vehicle financing side, Sales Tax on Luxury Goods (PPnBM) incentives also play a role in growing performance," he said.

Furthermore, Hery explained that the positive score in the first three months of this year was supported by the financing sector, which rose 14.7 percent YoY to Rp159.07 trillion from the previous Rp138.64 trillion.

The lack of the intermediation function was accompanied by the company's ability to maintain the gross non-financing loan (NPF) ratio to 3.09 percent from the March 2020 period of 3.35 percent. Meanwhile, the net NPF was recorded to have improved from 1.57 percent to 0.92 percent.

This slick performance had an impact on the total assets collected to Rp234.43 trillion at the end of the first quarter of 2021 from Rp208.10 trillion in the same period the previous year.

Meanwhile, on the liquidity side, it was stated that the largest Islamic bank in Indonesia collected third-party funds (DPK) of Rp205.51 trillion until the first quarter of this year, or 14.3 percent jump from the first quarter of last year with Rp179.79 trillion.

These deposits were dominated by low-cost savings funds with an amount of Rp88.05 trillion, followed by deposits of Rp85.66 and demand deposits of Rp36.16 trillion.

Then, the bank with the issuer code BRIS also actively distributes financing to MSMEs with a record that until the first quarter of 2021 which is Rp35.91 trillion or around 22.63 of the composition of all financing made by the company.

This achievement increased from the position at the end of December 2020 which amounted to Rp34.99 trillion or 22.4 percent of the composition of financing for all sectors.

"Hopefully this is a good start for BSI, and then we can grow even better in the future," concluded Hery.